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Medical Expense Frm Dependent-90334 - Villanova University

Medical Expense Frm Dependent-90334 - Villanova University 2025

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The document is a Medical Expense Form for dependent students at Villanova University, intended for parents to report unreimbursed medical and dental expenses exceeding 7.5% of their total income. It outlines the process for submitting these expenses to the Office of Financial Assistance, including necessary documentation and signatures from both the custodial parent and student. The form emphasizes that submission does not guarantee additional financial aid.

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What is considered a medical care expense?

Medical expenses are any costs incurred in the prevention or treatment of injury or disease. Medical expenses include health and dental insurance premiums, doctor and hospital visits, co-pays, prescription and over-the-counter drugs, glasses and contacts, crutches, and wheelchairs, to name a few.

What qualifies as a dependent care expense?

It explains how to figure and claim the credit. You may be able to claim the credit if you pay someone to care for your dependent who is under age 13 or for your spouse or dependent who isnt able to care for themselves. The credit can be up to 35% of your employment-related expenses.

What are medical dependent care expenses?

A Dependent Care Flexible Spending Account (DCFSA) covers qualified day care expenses for children younger than age 13 and adult dependents who are incapable of caring for themselves. Dependent care FSA-eligible expenses include: Adult day care facilities. Application fees for daycare.

Why am I only getting $1200 for dependent care credit?

The percentage of expenses a family can claim steadily decreases as income rises, until families with AGI of $43,000 or more docHub the minimum claim rate of 20 percent, qualifying for a maximum potential credit of $1,200. Unlike the Earned Income Tax Credit and the Child Tax Credit, the CDCTC is non-refundable.

What is an example of dependent care?

Here are a few examples of typical dependent care FSA-eligible expenses: Day care, preschool, and nursery school. Summer day camps. Some approved nanny services.

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